We’re being hammered by a recession, jobs disappear in a flash but the debts we owe continue to climb. What is a person to do?

You’re used to being able to find credit and the first impulse is usually to go find more credit — consolidation loans or home equity loans. With interest rates being low, that seems to be a logical way to deal with those debts, as long as you are working and the rates stay low. In this volatile economy, you have no guarantee either a job or low interest rates will be stable.

There are options to dealing with your debts based on your ability to pay. The most important step you can take right now is — DON’T Panic! Take a deep breath and take a good look at the situation. WAIT! There is more to read… read on »